Amaravati bonds listed on Bombay Stock Exchange

Monday, August 27, 2018

With the Chief Minister Chandrababu Naidu ringing the bell at Sir Dinshaw Petit International Convention Hall at the Bombay Stock Exchange today marked the listing of Amaravati Bonds.

The AP CRDA issued the bonds worth Rs.2,000 crore including a basic offer of Rs.1,300 crore and a green shoe operation of Rs.700 crore on August 14 and what made the issue a historic one is it is the biggest ever fund raising made by any Indian urban development authority for infrastructure creation.

Speaking to the gathering, Chandrababu said it was one of a wide variety of funding avenues that the Andhra Pradesh government had explored in the process of mobilising funds for the construction of Amaravati and said the good response had reflected the investor confidence in the State government and the capital project. Chandrababu requested the BSE MD and CEO Ashish Kumar Chauhan to set up an innovation centre in the State. The bond issue was guaranteed by the Government of Andhra Pradesh and was rated by CRISIL, Bickwork and Acuite supported by A.K.Capital Services as the sole arranger. Principal Secretary (CRDA) Ajay Jain detailed the major milestones in the State government had crossed in the construction of the capital city.

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